The Oklahoma City-based company that purchased troubled ice cream maker Dippin' Dots out of bankruptcy has settled a legal dispute with a company that handled merchandising licenses for the previous owners of the brand.

The licensing company, Licensing Link, Ltd. had contracts with the previous owners of Dippin' Dots to license the company's brand to toy and candy companies and other businesses.

In court documents, Licensing Link objected to the new owners of the Dippin' Dots brand taking over some licensing agreements because of fees that Licensing Link was entitled to collect through contracts with the previous owners.

In court documents filed Monday, the new Dippin' Dot owners said they had reached an agreement to pay Licensing Link $5,000 in order to settle the dispute.

Dippin' Dots, which marketed itself as the ice cream of the future, filed for Chapter 11 bankruptcy protection in November 2011.

The company manufactures its distinct beads of ice cream using the process of cryogenic encapsulation at its Kentucky factory and sells the product to theme parks, event venues and franchisees.

“Dippin' Dots successfully emerged from bankruptcy, and the company is moving forward with its new owners on several exciting initiatives as part of building a firm foundation for growth in the coming years,” the brand's new owners said Monday in a statement.

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Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the University of Oklahoma and has worked at several newspapers in Oklahoma and Southern...